SCHEDULE 13G/A 0001467825 XXXXXXXX LIVE 4 Class A Common Stock, $0.0001 par value per share 12/31/2025 0001484778 ThredUp Inc. 88556E102 969 Broadway Suite 200 Oakland CA 94607 Rule 13d-1(d) Highland Management Partners VIII Limited b E9 0 4933717 0 4933717 4933717 N 4.4 CO (1) All such securities are Class B Common Stock (as defined in Item 2(d) of the Original Schedule 13G (as defined below)), which are held of record by Highland VIII, Highland VIII-B and Highland VIII-C (each as defined in Item 2(a) of the Original Schedule 13G). HMP VIII Ltd (as defined in Item 2(a) of the Original Schedule 13G) is the sole general partner of HMP VIII LP (as defined in Item 2(a) of the Original Schedule 13G), which is the sole general partner of each of Highland VIII, Highland VIII-B and Highland VIII-C. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q for the quarter ended September 30, 2025, filed with the United States Securities and Exchange Commission on November 3, 2025 (the "Form 10-Q"), plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons (as defined in Item 2(a) of the Original Schedule 13G) and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Management Partners VIII Limited Partnership b E9 0 4933717 0 4933717 4933717 N 4.4 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VIII, Highland VIII-B and Highland VIII-C. HMP VIII Ltd is the sole general partner of HMP VIII LP, which is the sole general partner of each of Highland VIII, Highland VIII-B and Highland VIII-C. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Capital Partners VIII Limited Partnership b E9 0 3580027 0 3580027 3580027 N 3.2 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VIII. HMP VIII Ltd is the sole general partner of HMP VIII LP, which is the general partner of Highland VIII. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Capital Partners VIII-B Limited Partnership b E9 0 55504 0 55504 55504 N 0.0 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VIII-B. HMP VIII Ltd is the sole general partner of HMP VIII LP, which is the general partner of Highland VIII-B. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Capital Partners VIII-C Limited Partnership b E9 0 1298186 0 1298186 1298186 N 1.2 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VIII-C. HMP VIII Ltd is the sole general partner of HMP VIII LP, which is the general partner of Highland VIII-C. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Management Partners VII, LLC b DE 0 2656621 0 2656621 2656621 N 2.4 OO (1) All such securities are Class B Common Stock, which are held of record by Highland VII, Highland VII-B, Highland VII-C and HEF VII (each as defined in Item 2(a) of the Original Schedule 13G). HMP VII LLC (as defined in Item 2(a) of the Original Schedule 13G) is the sole general partner of HMP VII LP (as defined in Item 2(a) of the Original Schedule 13G), which is the sole general partner of each of Highland VII, Highland VII-B, Highland VII-C and HEF VII. Each of HMP VII LLC and HMP VII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the managing members of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Management Partners VII Limited Partnership b DE 0 2656621 0 2656621 2656621 N 2.4 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VII, Highland VII-B, Highland VII-C and HEF VII. HMP VII LLC is the sole general partner of HMP VII LP, which is the sole general partner of each of Highland VII, Highland VII-B, Highland VII-C and HEF VII. Each of HMP VII LLC and HMP VII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the managing members of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Capital Partners VII Limited Partnership b DE 0 1633061 0 1633061 1633061 N 1.5 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VII. HMP VII LLC is the sole general partner of HMP VII LP, which is the general partner of Highland VII. Each of HMP VII LLC and HMP VII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the managing members of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Capital Partners VII-B Limited Partnership b DE 0 395723 0 395723 395723 N 0.4 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VII-B. HMP VII LLC is the sole general partner of HMP VII LP, which is the general partner of Highland VII-B. Each of HMP VII LLC and HMP VII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the managing members of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Capital Partners VII-C Limited Partnership b DE 0 576297 0 576297 576297 N 0.5 PN (1) All such securities are Class B Common Stock, which are held of record by Highland VII-C. HMP VII LLC is the sole general partner of HMP VII LP, which is the general partner of Highland VII-C. Each of HMP VII LLC and HMP VII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the managing members of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Highland Entrepreneurs' Fund VII Limited Partnership b DE 0 51540 0 51540 51540 N 0.0 PN (1) All such securities are Class B Common Stock, which are held of record by HEF VII. HMP VII LLC is the sole general partner of HMP VII LP, which is the general partner of HEF VII. Each of HMP VII LLC and HMP VII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuer's board of directors), Paul Maeder and Corey Mulloy are the managing members of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. Daniel Nova b X1 563993 7590338 563993 7590338 8154331 N 7.3 IN (1) Represents 188,173 shares held of record by Mr. Nova, 6,890 shares held of record by Nova Family Enterprises and 368,930 shares held by the Daniel J. Nova 2000 Trust dtd 06/20/2000, all of which are shares of Class A Common Stock. Excludes 43,814 restricted stock units ("RSUs"), which will vest in full on the earlier of (i) May 21, 2026 or (ii) the Issuer's next annual meeting of stockholders, subject to Mr. Nova's continued service to the Issuer on such date. Each RSU represents a contingent right to receive one share of Class A Common Stock. (2) Includes all shares held of record by Highland VIII, Highland VIII-B, Highland VIII-C, Highland VII, Highland VII-B, Highland VII-C and HEF VII, all of which are shares of Class B Common Stock. Mr. Nova, a member of the Issuer's board of directors, is a director of HMP VIII Ltd and a managing member of HMP VII LLC and may be deemed to share voting, investment and dispositive power with respect to these securities. (3) This percentage is calculated based on 104,273,162 shares of Class A Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Form 10-Q, plus 7,590,338 shares of Class B Common Stock held by the Reporting Persons and assuming the conversion of such shares into shares of Class A Common Stock on a one-for-one basis. ThredUp Inc. The information set forth in Item 1 of the Original 13G is incorporated herein by reference. The information set forth in Item 2 of the Original 13G is incorporated herein by reference. The information set forth in Item 2 of the Original 13G is incorporated herein by reference. The information set forth in Item 2 of the Original 13G is incorporated herein by reference. Y See Row 9 of the cover page for each Reporting Person and the corresponding footnotes.* See Row 11 of the cover page for each Reporting Person and the corresponding footnotes.* See Row 5 of the cover page for each Reporting Person and the corresponding footnotes.* See Row 6 of the cover page for each Reporting Person and the corresponding footnotes.* See Row 7 of the cover page for each Reporting Person and the corresponding footnotes.* See Row 8 of the cover page for each Reporting Person and the corresponding footnotes.* Y N The information set forth in Item 6 of the Original 13G is incorporated herein by reference. Y Y Y Y Highland Management Partners VIII Limited /s/ Jessica Healey 02/11/2026 Highland Management Partners VIII Limited Partnership By: Highland Management Partners VIII Limited, its general partner; /s/ Jessica Healey 02/11/2026 Highland Capital Partners VIII Limited Partnership By: Highland Management Partners VIII Limited Partnership, its general partner; By: Highland Management Partners VIII Limited, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Highland Capital Partners VIII-B Limited Partnership By: Highland Management Partners VIII Limited Partnership, its general partner; By: Highland Management Partners VIII Limited, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Highland Capital Partners VIII-C Limited Partnership By: Highland Management Partners VIII Limited Partnership, its general partner; By: Highland Management Partners VIII Limited, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Highland Management Partners VII, LLC /s/ Jessica Healey 02/11/2026 Highland Management Partners VII Limited Partnership By: Highland Management Partners VII, LLC, its general partner; /s/ Jessica Healey 02/11/2026 Highland Capital Partners VII Limited Partnership By: Highland Management Partners VII Limited Partnership, its general partner; By: Highland Management Partners VII, LLC, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Highland Capital Partners VII-B Limited Partnership By: Highland Management Partners VII Limited Partnership, its general partner; By: Highland Management Partners VII, LLC, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Highland Capital Partners VII-C Limited Partnership By: Highland Management Partners VII Limited Partnership, its general partner; By: Highland Management Partners VII, LLC, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Highland Entrepreneurs' Fund VII Limited Partnership By: Highland Management Partners VII Limited Partnership, its general partner; By: Highland Management Partners VII, LLC, its general partner; 02/11/2026 /s/ Jessica Healey 02/11/2026 Daniel Nova /s/ Daniel Nova 02/11/2026 Note: This Amendment No. 4 (this "Amendment") amends and supplements the Schedule 13G originally filed by the Reporting Persons with the United States Securities and Exchange Commission (the "Commission") on February 10, 2022, as amended by Amendment No. 1 filed with the Commission on February 6, 2023, Amendment No. 2 filed with the Commission on February 9, 2024 and Amendment No. 3 filed with the Commission on February 14, 2025 (the "Original Schedule 13G"). Only those items that are hereby reported are amended; all other items reported in the Original Schedule 13G remain unchanged. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable. Capitalized terms not defined in this Amendment have the meanings ascribed to them in the Original Schedule 13G.